Dubai Land Department launches real-estate tokenization project, aiming to grow sector to $60 billion by 2033.

From Cointelegraph

March 20, 2025 03:15 AM:

The Dubai Land Department (DLD) has launched a real-estate tokenization project in collaboration with the Dubai Future Foundation (DFF) and the Virtual Assets Regulatory Authority (VARA). The initiative aims to convert real estate assets into digital tokens on the blockchain, making DLD the first in the UAE to implement tokenization on property title deeds. The DLD predicts the sector to grow to $60 billion by 2033.

The DLD expects the real estate tokenization project to drive growth in the sector, with a market value potentially exceeding $16 billion by 2033, representing 7% of Dubai’s total real estate transactions. DLD Director-General Marwan Ahmed Bin Ghalita highlighted that tokenization simplifies buying, selling, and investment processes, aligning with the agency’s vision to become a global leader in real estate investment.

Tokinvest co-founder and CEO Scott Thiel sees the initiative as transformative for Dubai’s real estate market, opening it up to a global pool of investors. Thiel emphasized that tokenization is no longer just a concept but a reality that will enhance the market’s inclusivity, liquidity, and efficiency. The UAE’s proactive regulations have paved the way for the country’s real-world asset (RWA) tokenization boom.

Read more at Cointelegraph: Dubai Land Department begins real estate tokenization project